SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
SCHEDULE
13G
(Rule
13d-102)
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO
RULES
13d-1(b),(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT
TO RULE 13d-2(b)
(Amendment
No. 1)*
Schnitzer
Steel Industries Inc
(Name
of
Issuer)
Common
Stock
(Title
of
Class of Securities)
806882106
(CUSIP
Number)
31
December 2007
(Date
of
Event Which Requires Filing of this Statement)
Check
the
appropriate box to designate the rule pursuant to which this
Schedule
is
filed:
x
Rule
13d-1(b)
o
Rule
13d-1(c)
o
Rule
13d-1(d)
1
The
remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The
information required in the remainder of this cover page shall not be deemed
to
be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934
(the "Act") or otherwise subject to the liabilities of that section of the
Act,
but shall be subject to all other provisions of the Act (however, see the
Notes.)
(Continued
on following pages)
Page
1 of 5
| CUSIP No. 806882106 |
Schedule
13G
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Page
2 of 5
Pages
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|
1
|
NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
M&G
Investment Management Limited
No
I.R.S Identification Number
|
||
|
2
|
CHECK
THE APPROPRIATE BOX IF THE MEMBER OF A GROUP*
(a)
o
(b)
o
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||
|
3
|
SEC
USE ONLY
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4
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
Kingdom, England
|
||
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
0
|
|
|
6
|
SHARED
VOTING POWER
950,382
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||
|
7
|
SOLE
DISPOSITIVE POWER
0
|
||
|
8
|
SHARED
DISPOSITIVE POWER
2,350,382
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||
|
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,350,382
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||
|
10
|
CHECK
BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
o
|
||
|
11
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.83%
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||
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12
|
TYPE
OF REPORTING PERSON
IA
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||
Page
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| CUSIP No. 806882106 |
Schedule
13G
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Page 3
of 5
Pages
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| Item 1(a). |
Name
of Issuer:
|
Schnitzer
Steel Industries Inc.
| Item 1(b). |
Address
of Issuer's Principal Executive
Offices:
|
3200
Northwest Yeon Avenue, PO Box 10047, Portland, OR 97296, United
States
| Item 2(a). |
Name
of Person Filing:
|
| 1. |
M&G
Investment Management Limited
(MAGIM)
|
| Item 2(b). |
Address
of Principal Business Office or, if None,
Residence:
|
Governor's
House, Laurence Pountney Hill, London, EC4R 0HH
| Item 2(c). |
Citizenship:
|
United
Kingdom, England
| Item 2(d). |
Title
of Class of Securities:
|
Common
Stock
| Item 2(e). |
CUSIP
Number:
|
806882106
| Item 3. |
Type
of Person:
|
(e)
MAGIM
is an investment advisor in accordance with
s.240.13d-1(b)(1)(ii)(E)
Some
of
the securities covered by this report are owned legally by Vanguard precious
Metals and Mining Fund, MAGIM’s investment advisory client.
MAGIM
has
sole investment power and no voting power in these securities.
All
the
securities covered by this report are legally owned by MAGIM’s Investment
advisory clients, and none are owned directly by MAGIM.
| Item 4. |
Ownership.
|
Provide
the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified
in Item 1.
| (a) |
Amount
Beneficially Owned: M&G, in its capacity as investment manager, may be
deemed to beneficially
own: 2,350,382 shares.
|
| (b) |
Percent
of Class: 10.83%
|
| (c) |
Number
of shares as to which such person
has:
|
|
M&G
Investment Management Limited
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|||
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(i)
|
sole
power to vote or to direct the vote
|
0
|
|
|
(ii)
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shared
power to vote or to direct the vote
|
950,382
|
|
|
(iii)
|
sole
power to dispose or to direct the disposition of
|
0
|
|
|
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|||
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(iv)
|
shared
power to dispose or to direct the disposition of
|
2,350,382
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Page
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| CUSIP No. 806882106 |
Schedule
13G
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Page 4
of 5
Pages
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| Item 5. |
Ownership
of Five Percent or Less of Class.
|
If
this
statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner
of
more than five percent of the class of securities, check the
following
Not
applicable.
| Item 6. |
Ownership
of More than Five Percent on Behalf of Another Person.
|
Not
applicable.
| Item 7. |
Identification
and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
|
Not
applicable.
| Item 8. |
Identification
and Classification of Members of the
Group.
|
Not
applicable.
| Item 9. |
Notice
of Dissolution of Group.
|
Not
Applicable
Page
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| CUSIP No. 806882106 |
Schedule
13G
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Page 5
of 5
Pages
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| Item 10. |
Certification.
|
(a)
The
following certification shall be included if the statement is
filed
pursuant to Rule 13d-1(b):
"By
signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and
are
held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect
of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection
with or as a participant in any transaction having
that purpose or effect. "
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I
certify
that the information set forth in this statement is true, complete
and correct.
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By:
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--//Mark
Thomas//--
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|
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Name:
|
Mark
Thomas
|
|
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Title:
|
Head
of Group Funds
|
|
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Date:
|
February
13, 2008
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Page
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